According to data released by the Australian Bureau of Statistics (ABS), the Australian Business Confidence Index rebounded from 21 points to 1 point in June due to the relaxation of restrictive measures and economic activity, which was the third consecutive month of recovery. The business condition index rose 17 points to minus 7 points, rebounding for two consecutive months.
Alan Oster, chief economist of the National Bank, said that the business confidence and condition index of most industries have rebounded. However, due to the sharp decline in these two indexes, Australia’s current business confidence and business conditions are still weak.
The ABS investigation was conducted from June 24 to 30, when Melbourne had not entered the blockade and isolation state. Australia started its business confidence and condition survey in 1996, and the rebound of both indices in June was the highest in history.
